 Ms Adaline Zheng, CEO, UOB Hong Kong, and Ms Marietta Li, Director, UOB Art Academy, unveil the return of the UOB Art in Ink Festival.)
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PM attends inauguration of upgraded statue of President Hồ Chí Minh in Santo Domingo
1.
● Placement shares of 14 million priced at S$0.26 per share fully subscribed
● Trading debuts on the Catalist Board of the SGX-ST at 9.00 am on Wednesday, 1 December 2022
SINGAPORE - Media OutReach - 30 November 2022 - Laboratory testing and certification services provider LMS Compliance Ltd, (“LMS Compliance” or the “Company” and together with its subsidiaries consisting of the MY CO2 group of companies, Empiric Science Sdn. Bhd. and LMS Compliance International Pte. Ltd., the “Group”) has attracted positive interest from investors for its initial public offering (“IPO”) by way of a placement (the “Placement”) of 14 million shares (the “Placement Shares”) at S$0.26 per share. LMS Compliance registered its offer document on 22 November 2022, and the listing and trading of its shares on the Catalist Board of the Singapore Exchange Securities Trading Limited (the “SGX-ST”) is expected to commence on a “ready” basis at 9.00 am on 1 December 2022.
As at the close of the Placement at 12.00 noon on 29 November 2022, all 14 million Placement Shares have been validly subscribed for and application monies received for these Placement Shares amount to S$3.64 million.
Dr. Ooi Shu Geok, LMS Compliance’s Executive Director and Chief Executive Officer, annotated: “We are thrilled to launch our IPO, which marks a new growth chapter for the Group in the laboratory and testing certifications industry. We will leverage on our established track record of 15 years and our experience that spans a gamut of industries and sectors to create and enhance value for all stakeholders, building on our proven capabilities and technological know-how to drive robust growth in the future.”
Mr Nickle Luo, Founder and Chief Executive Officer of RID Testing & Certification and VEO Standards, is one of the anchor investors that took part in the Placement. Mr Luo has a Master Degree in Management and is highly experienced in the fields of investment, strategy and mergers and acquisitions.
Usage of Proceeds
The Placement will raise gross proceeds of approximately S$3.64 million and net proceeds of approximately S$2.04 million. The allocation of the intended use of proceeds is set out below:
Group’s Strategy
LMS Compliance plans to increase the range of its accredited and non-accredited tests in existing industry sectors, and expand into new sectors, such as oil and gas, by investing in new laboratory equipment, cleanrooms and instruments, as well as hiring new chemists and marketing staff. It may also set up new laboratories in other states of Malaysia where it does not have a footprint to capture demand from these locations, subject to an assessment of the commercial viability of such investments. LMS Compliance also intends to expand through acquisitions, investments, joint ventures and strategic alliances and may also consider strategic partnerships or alliances with parties which are synergistic with its existing businesses, in countries such as Malaysia, Indonesia and China.
In addition, the Group will expand its certification services to new industry sectors, such as agriculture, basic metals, machinery and equipment, recycling, as well as hotels and restaurants.
Also, the Group has plans to enhance the features and capabilities of the Group’s digital laboratory solutions, namely “aizenz-Document Management System”, “aikinz-Laboratory Information Management System” and “aisinz-Global Real-time Surveillance”, by adding artificial intelligence, data analytics, data mining or benchmarking capabilities to analyse customer behaviour patterns to assist in decision-making. Following that, the Group will leverage on its existing customer base, as well as other marketing and promotion efforts, to cross-sell its digital laboratory solutions. Having commercialised its “aikinz-Laboratory Information Management System” in 2020, there are approximately 24,000 online users across 41 countries for the period of one year up to the latest practicable date (being 16 September 2022).
While LMS Compliance currently does not have a fixed dividend policy, its directors intend to recommend and distribute dividends of a minimum of 20% of its profit attributable to owners of the Group in respect of the FY2022, FY2023 and FY2024 financial years.
Hashtag: #LMSCompliance
https://lmscompliance.com/#
This press release contains certain forward-looking statements which involve known and unknown risks, delays, and uncertainties not under the Company’s control which may cause actual results, performance, or achievements of the Company to be materially different from the results, performance, or expectations implied by these forward-looking statements. The Company makes no representation or warranty, express or implied, as to or endorsement of the accuracy or completeness of any information, statements, or representations contained in this press release with respect to the Company
This press release has been prepared by the Company and its contents have been reviewed by the Company’s sponsor, ZICO Capital Pte. Ltd. (the “Sponsor”), in accordance with Rule 226(2)(b) of the Singapore Exchange Securities Trading Limited (“SGX-ST”) Listing Manual Section B: Rules of Catalist.
This press release has not been examined or approved by the SGX-ST and the SGX-ST assumes no responsibility for the contents of this press release, including the correctness of any of the statements or opinions made or reports contained in this press release.
The contact person for the Sponsor is Ms. Goh Mei Xian, Director, ZICO Capital Pte. Ltd. at 77 Robinson Road, #06-03 Robinson 77, Singapore 068896, telephone (65) 6636 4201.
● Trading debuts on the Catalist Board of the SGX-ST at 9.00 am on Wednesday, 1 December 2022
SINGAPORE - Media OutReach - 30 November 2022 - Laboratory testing and certification services provider LMS Compliance Ltd, (“LMS Compliance” or the “Company” and together with its subsidiaries consisting of the MY CO2 group of companies, Empiric Science Sdn. Bhd. and LMS Compliance International Pte. Ltd., the “Group”) has attracted positive interest from investors for its initial public offering (“IPO”) by way of a placement (the “Placement”) of 14 million shares (the “Placement Shares”) at S$0.26 per share. LMS Compliance registered its offer document on 22 November 2022, and the listing and trading of its shares on the Catalist Board of the Singapore Exchange Securities Trading Limited (the “SGX-ST”) is expected to commence on a “ready” basis at 9.00 am on 1 December 2022.
As at the close of the Placement at 12.00 noon on 29 November 2022, all 14 million Placement Shares have been validly subscribed for and application monies received for these Placement Shares amount to S$3.64 million.
Dr. Ooi Shu Geok, LMS Compliance’s Executive Director and Chief Executive Officer, annotated: “We are thrilled to launch our IPO, which marks a new growth chapter for the Group in the laboratory and testing certifications industry. We will leverage on our established track record of 15 years and our experience that spans a gamut of industries and sectors to create and enhance value for all stakeholders, building on our proven capabilities and technological know-how to drive robust growth in the future.”
Mr Nickle Luo, Founder and Chief Executive Officer of RID Testing & Certification and VEO Standards, is one of the anchor investors that took part in the Placement. Mr Luo has a Master Degree in Management and is highly experienced in the fields of investment, strategy and mergers and acquisitions.
Usage of Proceeds
The Placement will raise gross proceeds of approximately S$3.64 million and net proceeds of approximately S$2.04 million. The allocation of the intended use of proceeds is set out below:
- S$0.30 million to expand its certification services segment and conformity assessment technology distribution segment
- S$1.20 million for acquisitions, joint ventures and strategic alliances to grow its business
- S$0.54 million for general working capital
Group’s Strategy
LMS Compliance plans to increase the range of its accredited and non-accredited tests in existing industry sectors, and expand into new sectors, such as oil and gas, by investing in new laboratory equipment, cleanrooms and instruments, as well as hiring new chemists and marketing staff. It may also set up new laboratories in other states of Malaysia where it does not have a footprint to capture demand from these locations, subject to an assessment of the commercial viability of such investments. LMS Compliance also intends to expand through acquisitions, investments, joint ventures and strategic alliances and may also consider strategic partnerships or alliances with parties which are synergistic with its existing businesses, in countries such as Malaysia, Indonesia and China.
In addition, the Group will expand its certification services to new industry sectors, such as agriculture, basic metals, machinery and equipment, recycling, as well as hotels and restaurants.
Also, the Group has plans to enhance the features and capabilities of the Group’s digital laboratory solutions, namely “aizenz-Document Management System”, “aikinz-Laboratory Information Management System” and “aisinz-Global Real-time Surveillance”, by adding artificial intelligence, data analytics, data mining or benchmarking capabilities to analyse customer behaviour patterns to assist in decision-making. Following that, the Group will leverage on its existing customer base, as well as other marketing and promotion efforts, to cross-sell its digital laboratory solutions. Having commercialised its “aikinz-Laboratory Information Management System” in 2020, there are approximately 24,000 online users across 41 countries for the period of one year up to the latest practicable date (being 16 September 2022).
While LMS Compliance currently does not have a fixed dividend policy, its directors intend to recommend and distribute dividends of a minimum of 20% of its profit attributable to owners of the Group in respect of the FY2022, FY2023 and FY2024 financial years.
Hashtag: #LMSCompliance
The issuer is solely responsible for the content of this announcement.
About LMS Compliance
LMS Compliance is a laboratory testing and certification services provider based in Malaysia with an established track record of more than 15 years. The Group’s operations comprise four segments – (1) Testing and Assessment, (2) Certification, (3) Trading, and (4) Distribution of Conformity Assessment Technology.
The Group’s testing and assessment services include chemical, microbiology, nucleic acid and physical analyses for its clients across a gamut of sectors, from food and healthcare to industrial and green-tech, assisting them to achieve compliance with industry standards as well as product safety. In this regard, LMS Compliance has three accredited laboratories across Malaysia with the capability to conduct a range of accredited and non-accredited tests.
For its certification segment, the Group provides audit and management system certification services. The certification audits provided by the Group include ISO 9001 – 2015 Quality Management Systems certification, ISO 22000 – 2018 Food Safety Management System certification and ISO 45001 - 2018 Occupational Health & Safety Management System certification.
In terms of the Group’s trading segment, the Group trades and distributes a broad range of analytical instruments, testing equipment, chemicals, glassware, and laboratory consumable items.
Lastly, the Group also markets and distributes its in-house developed Conformity Assessment Technology, which include a digital laboratory information management system to help customers streamline and digitalise laboratory operations, and a one-stop ISO certification platform that enhances the efficiency of the certification process for businesses.
More about LMS Compliance:
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This press release contains certain forward-looking statements which involve known and unknown risks, delays, and uncertainties not under the Company’s control which may cause actual results, performance, or achievements of the Company to be materially different from the results, performance, or expectations implied by these forward-looking statements. The Company makes no representation or warranty, express or implied, as to or endorsement of the accuracy or completeness of any information, statements, or representations contained in this press release with respect to the Company
This press release has been prepared by the Company and its contents have been reviewed by the Company’s sponsor, ZICO Capital Pte. Ltd. (the “Sponsor”), in accordance with Rule 226(2)(b) of the Singapore Exchange Securities Trading Limited (“SGX-ST”) Listing Manual Section B: Rules of Catalist.
This press release has not been examined or approved by the SGX-ST and the SGX-ST assumes no responsibility for the contents of this press release, including the correctness of any of the statements or opinions made or reports contained in this press release.
The contact person for the Sponsor is Ms. Goh Mei Xian, Director, ZICO Capital Pte. Ltd. at 77 Robinson Road, #06-03 Robinson 77, Singapore 068896, telephone (65) 6636 4201.
